The Board of Directors shall supervise the Fund management, and for this purpose it may exercise the following tasks and powers:

1. Developing the Fund general policy and approving the plans and programs required to implement it.

2. Approving the technical foundations and standards necessary to implement the Fund tasks and achieve its objectives.

3. Creating the Fund financial account in accordance with the financial procedures applicable in the Council.

4. Approving the collection and disbursement of foundations, programs, and mechanisms from the Fund money.

5. Approving the Fund draft budget and closing account.

6. Appointing one or more external auditors, if necessary, and determining their remuneration.

7. Issuing administrative and financial powers schedule.

8. Preparing an annual report on the implemented initiatives and projects and the Fund financial position and submitting it to the Cabinet.

9. Forming the necessary committees to manage the fund and implement its tasks and objectives.

The Fund shall be financially independent, so that it can implement its tasks and powers for the Council budget and bank accounts.

For the achievement of the Fund objectives, the Fund has the following capacities:

1. Funding programs and initiatives of citizens qualification and employment in the private sector.

2. Funding training and technical programs and specialized certificates to support and qualify national work capabilities and skills in the private sector.

3. Establishing strategic partnerships with private bodies and institutions to achieve the Fund objectives.

4. Managing the Fund money to achieve its objectives.

5. Any other powers entrusted by the Board of Directors. 

The Fund is intended to:

1. Support efforts of qualification and employment of the national human resources.

2. Provide additional financial resources to support the objectives, programs, and initiatives of the Council.

3. Ensure the sustainability of the Council programs and initiatives.

4. Support programs and initiatives of citizens qualification and employment in the private sector and establish a work culture therein. 

5. Any other objectives entrusted by the BOD.

"NAFIS Fund" shall be established in the Council and shall be affiliated with the Board of Directors.

In application of the provisions herein, the following words and expressions shall have the meanings ascribed thereto, unless the context requires otherwise:

State: United Arab Emirates.

Council: Emirati Talent Competitiveness Council.

Board of Directors: Council’s Board of Directors.

Chairman: Chairman of the Board of Directors.

Ministry: Ministry of Human Resources and Emiratization.

Fund: NAFIS Fund.

Fund Budget: A detailed statement on the revenues, earnings, and expenditures expected during a specific financial year for the Fund.

Fund Resources: The sources by which the Fund secures its financial resources necessary for potential disbursement to achieve its objectives and exercise its competences.

Disbursement Mechanism: The means through which the Fund spends money on its approved initiatives, programs, and projects.

This Resolution shall be published in the Official Gazette and shall enter into force as of the day following the date of its publication.

Any provision that contradicts the provisions of this Resolution shall be repealed.

The Board or whomsoever it delegates may, in cases it deems appropriate, publish a notice or press releases at the start of the investigation in certain serious violations or whenever required by the public interest.

The Board or whomsoever it delegates may suspend or cancel the resolution to publish the violation for public interest considerations.